It is is a decade since I purchased my house in Pratt's Bottom. Conveyancing solicitors have recently been instructed on the sale but I am unable to track down the title deeds. Is this a problem?
You need not be too concerned. Firstly there is a chance that the deeds will be with your lender or they could be in the possession of the solicitor who oversaw your purchase. Secondly in all probability the property will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining current official copies of the land registers. Almost all conveyancing in Pratt's Bottom involves registered property but in the unlikely event that your home is unregistered it adds to the complexity but is resolvable.
My grandfather passed away last year and as sole heir and executor I was left the property in Pratt's Bottom. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Kent Reliance, pay off the mortgage. Is this allowed?
Given you intend to refinance then Kent Reliance will require that you use a conveyancer on the Kent Reliance conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Kent Reliance conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Kent Reliance mortgage is registered as a charge at the Land Registry.
Will our lawyer be raising enquiries concerning flooding as part of the conveyancing in Pratt's Bottom.
The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Pratt's Bottom. Plenty of people will buy a house in Pratt's Bottom, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, but there are a number of searches that may be carried out by the purchaser or by their conveyancers which will give them a better appreciation of the risks in Pratt's Bottom. The conventional set of property information forms supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the vendor to discover if the property has suffered from flooding. In the event that flooding has previously occurred and is not disclosed by the seller, then a buyer could commence a claim for damages as a result of such an incorrect answer. The buyer’s solicitors should also conduct an enviro search. This will disclose whether there is a recorded flood risk. If so, additional investigations will need to be carried out.
I opted to have a survey done on a house in Pratt's Bottom prior to retaining conveyancers. I have been informed that there is a flying freehold element to the property. My surveyor advised that some mortgage companies tend not issue a mortgage on this type of home.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you contact us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Pratt's Bottom. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Pratt's Bottom to see if the conveyancing costs will increase in light of this.
We are midway through buying a residence in Pratt's Bottom. Conveyancing solicitor has told us the property is "Leasehold". Does this make a difference on the marketability of the house?
Pratt's Bottom conveyancing does not normally involve leasehold houses. The main consideration here is the unexpired lease term and the ground rent. If there are hundred of years years remaining with a peppercorn rent, it's essentially freehold, so it shouldn't impact the saleability too much.
On the flip side, if it's, say, fifty five years it will have a significant impact on the saleability, and most likely wouldn't be acceptable to the lender. The remaining lease term and ground rent will be stated in the lease provided to your lawyer.